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Citigroup reveals $15.5m severance pay package for Pandit

Citigroup, in a filing with the Securities and Exchange Commission on Friday, revealed a payout worth almost $15.5m for former chief executive Vikram Pandit, saying the Indian-born financier will earn deferred stock and other awards totalling $8.83m, as well as incentives amounting to $6.65m for this year.

The US bank also disclosed that John Havens, who stepped down as its president and chief operating officer last month, will get a severance package worth nearly $7m.